System and method for wagering the value of a financial transaction

a financial transaction and system technology, applied in the field of wagering systems, can solve the problems of not being readily accessible to patrons nor presented

Inactive Publication Date: 2005-03-03
CANTOR INDEX
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0005] Various embodiments of the present invention may benefit from numerous advantages. It should be noted that one or more embodiments may benefit from some, none, or all of the advantages discussed below. An advantage of the system and method described herein is that the value of a financial transaction may now be wagered according to odds that are dynamically determined based upon the value of the prize of the wager and the risk value associated with the wager. The wagering system and method des...

Problems solved by technology

A problem with these prior types of wagering is that they are neither readily accessible to patrons no...

Method used

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  • System and method for wagering the value of a financial transaction
  • System and method for wagering the value of a financial transaction

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Embodiment Construction

[0009]FIG. 1 illustrates one embodiment of a system 10 for establishing and processing a wager 12. Depending upon particular implementations of system 10, as described below, system 10 comprises one or more of a processor 14, a memory 16, an input device 18, and a display 20. In general, system 10 determines odds for a wager 12 based upon a selected prize value and a selected risk value, and determines whether the wager 12 is won as a function of the determined odds.

[0010] Processor 14 comprises any suitable number and combination of processing modules, such as, for example, wager input module 30, odds determination module 32, and outcome determination module 34. Each processing module comprises any suitable combination of hardware and software to perform the functionality described herein. Processing modules 30-34 may be integrated and / or distributed according to particular needs or desires. Memory 16 comprises any suitable arrangement of volatile and / or non-volatile memory that s...

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Abstract

A system for establishing a wager comprises a memory and a processor. The memory stores a value of a prize for a wager, and a risk value for the wager. The processor is coupled to the memory and determines odds for the wager, wherein the odds are based at least in part upon the value of the prize and the risk value. The processor further determines whether the wager is won as a function of the determined odds.

Description

TECHNICAL FIELD OF THE INVENTION [0001] The present invention relates generally to wagering systems and more particularly to a system and method for wagering the value of a financial transaction. BACKGROUND OF THE INVENTION [0002] Wagering in casinos, on sporting events, and in lotteries is a large and growing industry throughout the world. Various types of betting products and systems exist that facilitate betting on the outcome of a particular game. For example, a patron in a casino may bet on a single hand of blackjack, a pull on a slot machine, a roll of the dice, etc. Typical horse racing bets allow bettors to wager on a single horse or on several horses in a particular race or series of races. Lotteries allow patrons the opportunity to win sizeable jackpots by preselecting a predetermined number of randomly drawn numbers. A problem with these prior types of wagering is that they are neither readily accessible to patrons nor presented in a format that is flexible for the patron...

Claims

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Application Information

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IPC IPC(8): G06Q40/00
CPCG06Q40/00G07F17/3288G07F17/32G06Q50/34A63F13/00
Inventor ASHER, JOSEPH M.CHHABRA, ASHWINI K.LUTNICK, HOWARD W.
Owner CANTOR INDEX
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